UNION FAMILY SAVINGS SCHEME

Features

Bank Together, Gain Together.Yes at Union Bank of India,banking together has become even more rewarding. Presenting, the Union Bank’s Family Saving Scheme which is especially designed to meet all the banking requirements of your family members under one roof.

What you need to do is to open the accounts of all the family members & link them together as a group, to enjoy the flexibility of balance maintenance. The free facilities are based on the collective balance maintained by the family as a whole. Thus, all your family members become eligible to enjoy the privileges.

Features & Benefits:

Minimum 2 & maximum 6 family members (accounts) can form a group under this scheme. Customers having multiple SB accounts with us can also club all his/her accounts under this scheme along with other family member/s.

The group as a whole will have to maintain Average Quaterely Balance (AQB) of Rs.1 lakh in SB accounts OR Rs.10 lakhs in the Term Deposit accounts in order to avail the benefits. However, for new accounts opened & grouped under this scheme, the combined SB balance has been kept at Rs.50,000.

Free facilities starts from day One. The Facilities can be enjoyed by any member (account) of the family in the group.

Clubbing the accounts belonging to the family members is for the purpose of identification of the group and for arriving at the average quarterly balance only.The individual accounts will be operated strictly as per the mandate submitted by the individual customer/joint holder (necessarily a family member).Secrecy and confidentiality of the individual accounts will not be compromised in any case.

Free facilities per account under this scheme are as under :

Features

Facilities

A) Cheque Book & Remittances

Free Personalized Multicity Cheque Books Per Year

2 Books per account

Inter Sol Transactions Per Month(Excluding Cash)

Unlimited Free

NEFT/RTGS

Unlimited Free

Free Demand Draft/ Pay Order

Up to Rs.20,000 Per Account Per Month

B) International Debit cum ATM Card Facility

ATM cum Debit Card

Free, No issuance Charge.

ATM Withdrawal

Rs.25,000 Per Day

Shopping Limit -POS

Rs.25,000 Per Day

Combined Limit(ATM+POS)

Rs.50,000 Per Day

Accidental Insurance Cover upon usage of Debit card

Rs.2 Lacs

No Annual Maintenance Charges For Debit Cards

Internet Banking (Fund Transfer+ Bill Payments)

Free

Pass Book/ Account Statement

Free

C) Add On Facilities

Waiver Of Cash Deposit Charges @Outstations

Up to Rs.50,000 per day

SMS Alerts

Free

Penalty for Non-maintenance of AQB by the group : No Penalty. However, free benefits will cease in case the AQB requirement falls below the stipulated level and the normal service charges will be levied.